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Posted on 12/02/2008 8:29:43 AM PST by rabscuttle385
The head of a new congressional panel set up to monitor the gigantic U.S. government bailout says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort.
Elizabeth Warren, the chairwoman of the oversight panel, said in an interview Monday that the government instead seemed to be lurching from one tactic to the next without clarifying how each step fits into an overall plan.
(Excerpt) Read more at iht.com ...
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Lol. Have faith in Bernanke-san.
No, there is a plan, these people are not stupid.
http://www.theonion.com/content/video/in_the_know_should_the_government
Sorry, after five years in an academic setting, I have learned not to blindly trust idiots.
>>[the Feds are clueless]
>Finally...the Federales are admitting their cluelessness.
Yep... that makes it new[s].
Oh, I forgot about repealing the Community Reinvestment Act too. So, why did our government force investors to make bad loans for housing that people could not afford?
Gorelick, Raines, 'O', Franks, Dodd, etc. are surely enjoying their pilfering of taxpayer and investors' monies.
They can't do that because then the game would be up for them. Then again, it's only a matter of time before the electorate wakes up and realizes that the Emperors have no clothes, and when that happens, the result is not going to be pretty. [Cue to Iceland.]
I’ve read some pretty good articles by Eliz Warren, IMO she has quite the level head.
That said, I wish I could get one of these neat government positions where you get paid into six figures for stating the obvious. That is, if I couldn’t get 7 figures as a CEO for running my company into the ground.
Paulson is definitely taking care of his scummy buds on Wall St and big banks too. That’s why they are called banksters
Meanwhile GM and Ford are ragged on mercilessly for a measly 25 billion. Because they are blue collar and actually make useful things. While Wall St scum (Limbaugh says most are liberals) build a mountain of credit default swaps
We are bailing out derivatives right now. Not sub prime mortgages which is “only” a 1 trillion dollar mess
I’m a fifth-year undergrad Computer Science student in the Engineering School ......
I would rather have the House and Senate full of engineers instead of lawyers. Lawyers are dreamers actors deceivers and compromisers. Engineers work in the real world. The prosaic world where an attempt is made to quantify instead of posing and running your mouth. Like Barrak Obama. A freakin salesman
There is only one guarantee with their actions: They will wreak of hubris and complete wrong-headedness.
In short, what else would you expect from a bunch of sociopathic, vain children who have stolen an Amex gold card?
They are like that because they are lawyers. Lawyers are natural born actors. Good speakers. Good convincers
Good lawyers are good con men. So good they believe their lies
Ban lawyers from serving as Senators and Congressman Senate and this nation would do a 180. So an engineer or businessman becomes a Senator and he has flunky lawyers working for him on legislation. You never let them call the shots
Excellent point. I have been considering lately how one would go about outlawing the profession of lawyer, as more than any other "trade", the paid practitioners of deception and evasion have destroyed the West. The "practice of law" is diametrically opposed to the rigors of science in thought processes and desired outcomes. Law is a type of structured insanity which attracts and grows the most abominable individuals with the most horrendous character flaws in society, and encourages the participation and reward of the least productive, most parasitic members of a society.
Natural law requires no lawyers, and the legal system is exceptionally un-natural.
There’s only one solution. The messiah must create a cabinet level bailout agency, replete with it’s own secretary of the bailout who will oversee the distribution of public money to whatever industry is facing a downtrun/needs to be controlled/can’t take care of itself and needs the loving arms of the state to prop it up.
It’s the Bush administration that’s clueless. They had the strategy right the first time, to clean the junk out of the financial system.
Excellent reference in your reply!!
I beginning to believe that we’re seeing the creation of a cleptocracy. The government creates a crisis, then the politicians bail out anyone with ties to them while funneling substantial amounts back to them.
They threaten economic meltdown while taking over entire segments of the economy to shelter their pals.
Tony-— You said it better than me
Just remember, lawyers are actors and word smiths
The best ones may hit genius level in verbal aptitude tests such as SAT and LSAT. I’m not too familiar with the LSAT. Lots of memorization I’m sure
Those who cannot act and pose and don’t say much may make much better leaders but cannot win political office versus the suave motor mouths
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